A new management team of Trimo is starting the next chapter of Trimo development with the objective to make Trimo once again one of the leading companies in the sector
Maciej Radomski was appointed as the new CEO of Trimo on the first session of the new supervisory board on 7 April 2016. In his first presentation to employees and to the press he explained:
“I believe today represents the start of a new and promising era for Trimo. First I would like to thank the Management Board of Igor Krzan and Bojan Gantar for doing an excellent job over the last two years to stabilize the company. Beside that we are fortunate that Innova Capital has become the key investor in Trimo. The transaction will allow the debts of the company to be cleared and the new Trimo will now sit on a strong financial foundation. Together with Innova Capital, our objective is to re-establish Trimo as one of the leading companies in the sector, providing both panels and high-value added façade solutions, like our Qbiss One façade systems. I will be focusing my efforts on growing the company, including the sales of Trimoterm across Europe and in addition expanding the reach of Qbiss One in global markets.”
Maciej has been Partner at Bull Run - Turnaround & Interim Management company, which for over a year now has been working with Innova Capital on the growth and investment plan for Trimo. He graduated from economy at Akademia Ekonomiczna Poznan. He has significant experience in managing companies of up to 1000 employees and a track record of successful turnaround and business development projects. Together with new Supervisory Board Chairman Jeffery L. Grady, they implemented a highly successful restructuring of Metalplast Oborniki in Poland – at the time the biggest sandwich panel producer in Central Eastern Europe. Within three years of taking over the management, the output of the company increased from 850 000 m2 of panels to 3,5 million m2 and the value of the company increased over eight times. In 20 years of experience, Mr. Radomski has held all key top management positions (CEO, COO, CFO, sales, global sourcing, project management).
Messrs. Radomski and Grady have recruited several top quality Slovenian and international specialists to strengthen the current management team. Other members of the new Trimo management team are:
- Bartosz Jurkiewicz - Chief Procurement Officer - Member of Management Board
- Tine Svoljšak - Group Chief Financial Officer
- Jacek Janczuk - Operational Excellence Officer.
Bartosz has almost 20 years of experience in procurement. He has been managing different procurement activities in the manufacturing sector. Bartosz has 15 years of experiance working directly in the construction materials industry including for Ruukki Construction. His background is well aligned with Trimo's current business and operations.
Tine is a professional with working experience in the leadership of different projects, teams and companies, with an in-depth knowledge of corporate finance, risk management and corporate governance. He has been working as a Member of Management Board of Luka Koper and Dars. Before that he was employed by KPMG Slovenia.
Jacek was the leader of the Department of Organization and IT in Metalplast Oborniki 1992-1997. Then he was the founder and owner of a company providing IT services and process management, especially for sandwich panel and manufacturing companies across several countries of Europe. From 2005-2008 Team Leader for building and implementing a global Order-to-Delivery panels production process system for Ruukki Construction. Additionally, Jacek was the Project Manager for the start-up and implementation of 6 large sandwich panel production operations in Poland, Scandinavia, Romania and Ukraine. Jacek has over 20 years of experience in starting and optimizing the production of sandwich panels and steel structures.
All four members of the new management team start their new roles on April 7th of 2016.
Working together, this team and their colleagues will have several key short term objectives:
- Expanding and refocusing the company's marketing strategy and brand,
- Strengthening and expanding the European sales organisation for Trimoterm and Qbiss One,
- Introducing product improvements and modifications,
- Implementation of new financial management tools and risk control procedures,
- Improving the efficiency and effectiveness of the Order to Delivery process in the company,
- Reviewing and evaluating 'product/market' fit and making strategic decisions on new value added products in the Trimo pipeline.
The short term goals are, of course, strongly aligned with the long term objectives of Trimo:
- To increase Trimoterm growth by optimizing the product and improving customer service across Europe,
- To establish Qbiss One as a leading architectural façade solution in Europe,
- To globalize the Qbiss One system by establishing sales relationships in key overseas markets,To continue to develop additional innovative façade solutions and introduce them to the market.
The new management will measure the success of Trimo by the following indicators:
- Significant sales growth in Europe of Trimoterm mineral wool panels
- Expanding sales of Qbiss One to top Architects and Specifiers, not only in Europe but also in overseas markets
- Significantly improve the financial performance of the company
- Launch one new major value-added product per year
- Once again, achieve Trimo’s position as a sector leader
To meet these goals Trimo will enjoy full support of it’s new owner, Innova Capital, which is one of the leading mid-market private equity firms in Central Europe. Founded in 1994, Innova raised the first major CEE fund comprising entirely of private capital. Since then, Innova has invested almost € 600m, in over 40 companies, across 10 countries in the CEE region. Innova invests in middle market Central European companies with enterprise values normally ranging from €50 to €125 million. “The strategy of Innova is to build businesses, not to engage in financial engineering. They seek to change the trajectory of a company’s growth through strategic and/or operational transformation and succeed through forming a strong partnership with the management team and other stakeholders,” explained Jeffery L. Grady, the new Chairman of the supervisory board.
The new management team is well aware of the importance of employees’ understanding of the Trimo situation and future plans and objectives. Therefore yesterday the new management team already held detailed discussions with the broad management team and also with the workers representatives. Today the workers assembly was organized in which the new management team presented themselves, the new owner and the business goals of Trimo in the coming period to employees.
The new CEO of Trimo also presented the encouraging annual business results of Trimo and Trimo group for 2015. Last year Trimo generated over 85 mio EUR of net sales revenues which is a 26 % increase relative to 2014 as well as 16 % beyond plan for 2015. Trimo has recorded 2,7 mio EUR of net profit which is a great result considering the loss in 2014. The estimate results for Trimo Group also show positive trends. Net sales revenues amounted to 129,8 mio EUR (17 % over last year's achievement). Net profit of Trimo Group in 2015 is estimated at 4,3 mio EUR compared to 2,4 mio of loss in 2014.